Trustees Of Union College
- Assets
- $1.0b
- Revenue
- $197.8m
- Investments
- $485.4m
- Employees
- 2,304
- Location
- Schenectady, NY
- Founding
- 09/1937
- Data as of
- 06/2021
- EIN
- 14-1338580
Organization Overview
Trustees Of Union College is located in Schenectady, NY. The organization was established in 1937. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Trustees Of Union College employed 2,304 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trustees Of Union College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Trustees Of Union College generated $197.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $186.1m during the year ending 06/2021. While expenses have increased by 1.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNION COLLEGE DEVELOPS EVERY STUDENT TO LEAD WITH WISDOM, EMPATHY, AND COURAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNION COLLEGE CURRICULUM EMPHASIZES COLLABORATION WITH STUDENTS AND FACULTY THROUGH SMALL CLASSES AND UNDERGRADUATE RESEARCH, INTERNATIONAL STUDY AND LEARNING THROUGH SERVICE. THROUGH ITS UNIQUE INTERDISCIPLINARY APPROACH TO THE LIBERAL ARTS, UNION COMBINES THE HUMANITIES AND SOCIAL SCIENCES WITH SCIENCE AND ENGINEERING, EMPHASIZING THE PRACTICAL APPLICATION OF IDEAS THROUGH HANDS-ON EXPERIENCE. WITH MORE THAN 40 MAJORS AND 55 MINORS TO CHOOSE FROM, UNION STUDENTS CAN PURSUE DOUBLE MAJORS; COMBINE MAJORS AND MINORS; SELECT INTERDEPARTMENTAL AND MULTIDISCIPLINARY CONCENTRATIONS, AND AREA, ETHNIC AND CULTURAL STUDIES PROGRAMS; OR DESIGN THEIR OWN MAJOR. MOST STUDENTS TAKE THREE COURSES IN EACH OF THE THREE 10-WEEK TERMS THAT COMPRISE UNION'S ACADEMIC CALENDAR SYSTEM. (SEE SCHEDULE O)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David R Harris Voting President/trustee Ex Officio | OfficerTrustee | 40 | $739,955 |
Andrew Morris Faculty Trustee | Trustee | 40 | $88,745 |
Sophia Anderson Student Trustee (thru 06/2022) | Trustee | 1 | $1,377 |
Shari Midoneck-Pochapin Chair President's Council | Trustee | 1 | $0 |
Robert J Moser Term Trustee | Trustee | 1 | $0 |
William Perlstein Term Trustee/general Counsel | OfficerTrustee | 2.3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Turner Construction Company Construction | 6/29/22 | $2,612,745 |
Fpi Mechanical Inc Repairs/maintenance | 6/29/22 | $941,883 |
Pic Group Repairs/maintenance | 6/29/22 | $789,608 |
Complete Building Solutions Inc Janitorial Services | 6/29/22 | $408,843 |
Wm J Keller & Sons Construction Repairs/maintenance | 6/29/22 | $294,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,460,453 |
| Investment income | $3,657,831 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $118,307 |
| Net Gain/Loss on Asset Sales | $25,459,396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $799,113 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $197,804,663 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $54,288,128 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,920,764 |
| Compensation to disqualified persons | $759,718 |
| Other salaries and wages | $54,930,605 |
| Pension plan accruals and contributions | $5,439,303 |
| Other employee benefits | $12,175,663 |
| Payroll taxes | $3,404,824 |
| Fees for services: Management | $1,121,331 |
| Fees for services: Legal | $355,438 |
| Fees for services: Accounting | $265,252 |
| Fees for services: Lobbying | $932 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $538,150 |
| Fees for services: Other | $5,149,767 |
| Advertising and promotion | $265,518 |
| Office expenses | $6,437,011 |
| Information technology | $3,973,427 |
| Royalties | $0 |
| Occupancy | $6,062,736 |
| Travel | $1,175,985 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $930,544 |
| Interest | $5,517,467 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,376,924 |
| Insurance | $1,285,784 |
| All other expenses | $0 |
| Total functional expenses | $186,064,892 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,275 |
| Savings and temporary cash investments | $50,359,960 |
| Pledges and grants receivable | $62,890,238 |
| Accounts receivable, net | $2,862,344 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,510,765 |
| Inventories for sale or use | $1,063,012 |
| Prepaid expenses and deferred charges | $1,925,839 |
| Investments—publicly traded securities | $118,958,965 |
| Investments—other securities | $485,416,880 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,811,671 |
| Total assets | $1,010,860,824 |
| Accounts payable and accrued expenses | $25,459,806 |
| Grants payable | $0 |
| Deferred revenue | $3,777,130 |
| Tax-exempt bond liabilities | $86,670,616 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $73,045,532 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,255,083 |
| Total liabilities | $204,208,167 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $806,652,657 |